How Many Homes Do Shakopee Real Estate Agents Sell Annually?

I think many consumers in the market place tend to think that Shakopee real estate agents tend to sell 20, 30 or  even 40 homes per year. According to the National Association of Realtors, average real estate agents sell eight homes per year averaging a sales volume of $1,100,000.  I think the industry has painted a picture that Shakopee real estate agents are selling homes all day long. Shakopee Realtors tend to have many roles as they are almost running a small business in many ways. Typically the real estate brokerage hold a Realtors license, but many expenses and activities are up to the individual real estate agents. Some of the activities in a typical day may be:

  • Finding (prospecting) new business
  • Maintaining current listing inventory
  • Preparing individual marketing materials
  • Preparing listing marketing materials
  • Accounting for their real estate business
  • Website advertising
  • Marketing current listings
  • Managing the needs for their current clients

Often times Shakopee real estate agents have commission splits with their broker. Their real estate broker who holds the Realtors license may put them on a commission split with the brokerage where some newer agent could potentially be on a 50/50 split with their office and an experienced agent may be on a commission split anywhere from 50-99%. Typically with the higher commission splits there will be a “desk rent” in which the Shakopee real estate agents many need to pay a fee each month to the broker. Some of those fees could vary but from what I have seen it’s anywhere from $200-1650 per month. Some real estate companies will also charge transaction fee to their agents per transaction that may be $50-$100 and also take out corporate fees ranging from 1-3% of the gross real estate commission. Obviously these are all examples of what I have personally experienced in my career and may or may not reflect the industry as a whole because I do not know the structure of every company.

Shakopee real estate agents also have many fees they incur such as:

  • Marketing materials
  • Postage
  • Annual Licensing $450 per year
  • Supra Key Dues $152 per year
  • MLS Access Fee $114 per quarter
  • Errors and Omission Insurance $400 yr est
  • 15 Hours of Continuing Education each year
  • Signs
  • Sign installs and removal, typically $40-60 per listing
  • Business Cards
  • Optional Website IDX search $800-$1200 per year
  • Professional photography, which we sure know not many Shakopee Realtors take care of this!
  • Virtual Tours $89-$199 per listing

Average Shakopee real estate agents can easily spend upwards of $10,000-$15,000 per year in real estate related expenses. One thing we at Remax Advantage Plus and The Twin City Real Estate Team have done is to leverage our time and the real estate team philosophy. We have hired interns to do most of our marketing and prospecting for new business so that we may concentrated on client care and taking care of the needs of customers we are working with. We understand how important  the purchase of a home can be and we want to make sure to accommodate. Knowing the urgency of the Shakopee real estate market having only one Realtor can be a hang up if they are busy. Say a brand new Shakopee listing comes on the market and your agent is out of town or busy. You need to get in that house or it could sell! Having a team gives us the ability to have multiple Shakopee real estate agents on our team with the availability to show you the home. Problem solved! If you are search for a Shakopee home for sale make sure to contact us at the Twin City Real Estate Team.

 

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  • how many houses can a realtor sell in a month?

Shakopee MN MLS Short Sales Are Selling, BUT…..

With all the talk about short sale homes in Shakopee many buyers are wondering what is going onin the current market place. I took a look at only the Shakopee short sales and what their numbers looked like so far this year accornding to the MN MLS. For those looking at the MLS online website, themlsonline.com is NOT the MLS, iot simply is a company just like Edina Realty, Remax or Coldwell Banker however they were grandfathered in to using the term MLS in their name.

SHAKOPEE SHORT SALE INVENTORY & SALES

Anyway accornding to the MN MLS there are a total of 286 homes in Shakopee listed, of those 286 homes listed 86 are Shakopee short sales. One common way homes are listed in the MN MLS, but not on other broker sites are homes that are consider “sold subject to third party approval” whihc means they are a short sale home waiting for the bank to say yes or no. The seller likely has signed the offer as they still own the home, but need approval from the bank. There are 40 homes in Shakopee currently listed as active that have this classification….annoying, I know. There are only 10 pending Shakopee short sale listings that are waiting to close and have approval from the bank according to the MN MLS. It seems half or 2 out of every 3 listings is a short sale which i found this statitic interesting: from January 1, 2011 only 26 Shakopee short sales have closed! Only 26 home in 6 months! With all the short sale listing out in the marketplace these banks need get their acts together.

PRICING OF SHAKOPEE SHORT SALES

I think the pricing of Shakopee short sales is what is contributiong to lower prices for the average homeowner. So many buyer avoid short sale in Shakopee because they can not wait the 3-9 month time frame many short sale homes require. Oddly enough I looked a one niche in Shakopee that has a higher sales price and lower days on market of short sale listings than traditional sales. Shakopee townhome short sales had an average sales price this year of $129,033  with 143 days on the market with only 12 homes closing since 1/1/11. 94 foreclosure and tradtional sales netted $109,531 with 155 days on the market. I do think the foreclosures contributed to bringing this price down, but I can’t explain the shorter time frame, that baffles me. Looking at single family homes brings numbers you would expect.  The short sale listings in Shakopee averaged a sales price of $183,511 with 261 average days on market where the traditional sales averaged a sales price of $221,627 and only 125 days on the market.

SHAKOPEE SHORT SALE REALTORS HELP

If you are looking for a Shakopee Realtor or real estate agent to help represent you in buying a home or selling your home make sure they have the experience required to help. Having a knowledgeable Shakopee realtor who know the ins and outs of the bank short sale process can be beneifical even when purchase as they can know the right questions to ask to make sure eve

Finding PERFECT Shakopee Homes

If you are searching for the PERFECT Shakopee home I would be very picky. First off it is always best to find a good loan officer to get you preapproved before starting your Shakopee homes search. If you know where you are comfortable from a pricing standpoint your next step should be to contact a Shakopee Realtor to help with your home search. Typically in Minnesota the buyer agent, Shakopee Realtor, that would help you find a home is typically paid by the seller thus no cost to you. Many agents won’t make you sign a buyers contract until you are comfortable with their services.

Once you have both your Shakopee loan officer and Shakopee Realtor it is time to start your Shakopee home search. If you have narrowed your search to just Shakopee homes, you are so much closer that in you were to have multiple areas of interest. The hardest thing for client is find what area they want to be, after that the home search gets a little more simple. Shakopee is redrawing the school boundaries for 2011-12 so make sure you are within the Shakopee elementary school boundaries in which you prefer, and check where day cares boundaries may be also.

Some of the things I try to have clients find in the PERFECT Shakopee home pertains mostly to resale, here are some tips:

Shakopee Townhomes

  • End units generally sell well
  • One car garage homes are tougher to sell
  • townhomes with someone living above or below you can make it more difficult to sell
  • Try to find a home with a basement, large plus
  • Ideally find a townhome with a private master bathroom
  • 3 plus bedrooms always help with resale
  • If you are buying a 2 bedroom, try to also find one with a loft
  • proximity to public transit
  • If you assn has a pool that can help

Entry Level Shakopee Homes For Sale

  • If you can find a 3 car garage, do so
  • Master baths can separate your home from the competition
  • try to find 3 bedrooms on one level, great for families
  • Open floor plans
  • look at the updates. although your payment may be higher at least the 30k for windows, siding & roof won’t be an out of pocket expense.

Move Up Shakopee Homes For Sale

  • In my experience two story homes with 4 bedroom on one level sell better than those with only 3 up
  • many two stories will feature bonus rooms
  • In my opinion always find a 3 car garage, so many homes have been built now with three car garages
  • almost a must to have 1, if not 2 fireplaces
  • three season or four season porches are a plus
  • check mechanicals, windows and roof. these items could be getting towards to end of the life
  • think long term, would you prefer a rambler in 5 or 10 years? consider one now.
  • Main floor office space

Upper Bracket Shakopee Homes For Sale

  • Acreage can set your home apart
  • lake view, access or lake shore
  • custom builtins
  • most prefer walkout basements
  • extensive landscaping
  • outdoor living spaces (fire pits, outdoor fireplaces, pools)
  • Privacy, lot of trees

General Tips

  • most try to avoid backing to Highways and busy roads
  • power lines typically can turn buyers off
  • being close to apartment building can turn buyers off
  • being close to train tracks can stray future buyers

Shakopee Foreclosures

Digging through the Minnesota MLS this year may possibly be one of the largest year for Shakopee foreclosures to date. So far in 2011 there have been 28 foreclosure homes in Shakopee that have closed escrow.  36 Shakopee foreclosures are currently pending bring this years foreclosure total in Shakopee to 64 homes through only February. We are pacing over a home sold per day that is consider a Shakopee foreclosure! Now theoretically take that number and multiple by six, could that mean we are heading for 384 Shakopee foreclosures for the year?

Those Shakopee foreclosure numbers seem staggering being only 197 closed homes in Shakopee last year were foreclosures. We are heading for close to double those numbers and eclipsing the high of 331 set in 2009. Currently there are 54 homes in Shakopee that are active on the market and considered Shakopee foreclosures.

All of these numbers are only estimates being many Shakopee real estate agents often do not disclose the status of their Minnesota MLS listings or decipher if the home is a bank owned home, short sale or potential short sale. Why Shakopee real estate agent don’t disclose status can vary and it would be too time consuming to go through EVERY listing to get exact numbers

Although not perfect numbers you can see how the number of foreclosures in Shakopee have escalated since last year and how many buyers will have numerous opportunities this coming year.